Recent data reveals that Lido, the leading liquid staking protocol (LSP), now holds over 9 million ethereum within its system. This figure represents a significant 77.81% of the total ethereum value locked in current LSPs, underscoring Lido's dominant position in the market.
Lido's Dominance in the Liquid Staking Market
The industry of liquid staking, now valued in the billions, is led by Lido, the leading liquid staking protocol in today's decentralized finance (defi) landscape. Liquid staking, at its core, involves staking tokens while the assets remain "liquid" or "unlocked," allowing for diverse applications. This method allows stakers to earn rewards while maintaining access to their funds.
Lido Surpasses 9 Million Ether Deposits
For an extended period, Lido has been at the forefront of this market, and on November 21, 2023, it reached a significant milestone by surpassing 9 million in ether deposits. As of December 3, 2023, Lido holds a substantial 9.28 million ethereum (ETH) in deposits. In the preceding 36 days, dating back to October 27, 2023, the platform saw an influx of 490,000 ether.
Lido's Market Share and Competition
The current total value locked (TVL) in the protocol is estimated at $20.05 billion, based on prevailing exchange rates. Among the 25 liquid staking protocols (LSPs), Lido accounts for a commanding 77.81% of the market share. The second-largest player, Rocket Pool, recorded a deposit of 49,214 ether in the same 36-day period.
Rocket Pool's Milestone
Additionally, Rocket Pool recently celebrated a significant achievement, surpassing the 1 million ETH mark in TVL. While Lido and Rocket Pool observed deposits of 490,000 and over 49,000 ether respectively, Binance's LSP experienced a more modest increase of 3,459 ETH since October 27.
Lido's STETH and Rocket Pool's RETH Tokens
In the realm of staking token derivatives, Lido's STETH ranks among the top ten crypto assets on some market aggregation platforms, such as coingecko.com, although it's not listed in the top ten on coinmarketcap.com. Were STETH to be recognized among the top ten crypto assets today, its market capitalization would rank it as the eighth largest.
Meanwhile, Rocket Pool's RETH token is currently positioned as the 52nd largest among more than 10,000 listed crypto assets. Moreover, LSPs account for more than 52% of the TVL in defi today, according to defillama.com. Lido and Rocket Pool's milestones highlight that together, these protocols now control a combined total of 10 million in locked ether worth $22.28 billion.
The achievements of Lido and Rocket Pool in reaching the milestones of 9 million and 1 million ether deposits respectively demonstrate their dominance in the liquid staking market. As the industry continues to evolve, these protocols play a crucial role in enabling stakers to earn rewards while maintaining access to their funds. The future looks promising for liquid staking, and it will be interesting to see how Lido and Rocket Pool further contribute to the growth and development of this space.
The best place online to buy silver and gold
You must first understand the workings of gold before you can purchase it. Precious metals like gold are similar to platinum. It's very rare and is used as money because of its durability and resistance to corrosion. It is very difficult to use and most people prefer to purchase jewelry made of it over actual bars of Gold.
Two types of gold coins are available today: the legal tender type and the bullion type. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coin are not intended for investment. However, their value will increase with inflation.
They cannot be used in currency exchanges. For example, a person who buys $100 worth or gold gets 100 grams. This gold has a $100 price. Every dollar spent on gold purchases, the buyer receives one gram of gold.
When looking to buy precious metals, the next thing you should be aware of is where it can be purchased. There are many options for buying gold directly from dealers. First, you can visit your local coin store. You could also look into eBay or other reputable websites. You may also be interested in buying gold through private sellers online.
Private sellers are individuals who offer gold for sale, either at wholesale prices or retail prices. Private sellers will charge you a 10% to 15% commission for every transaction. A private seller will usually return less money than a coin shop and eBay. This option can be a good choice for investing in gold because it allows you to control the price.
You can also invest in gold physical. Although physical gold is easier to store than paper certificates you will still need to ensure it is safe. You need to make sure that your physical gold is safe by storing it in an impenetrable container like a vault or safety depositbox.
You can either visit a bank, pawnshop or bank to buy gold. A bank can offer you a loan for the amount that you need to buy gold. Customers can borrow money from pawnshops to purchase items. Banks tend to charge higher interest rates, while pawnshops are typically lower.
Another way to purchase gold is to ask another person to do it. Selling gold is simple too. You can contact a company like GoldMoney.com to set up an account and receive payments right away.
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